How does a transaction get into the blockchain?
- A transaction is requested and authenticated
- A block representing that transaction is created
- The block is sent to every node (i.e. participant) in the network
- Nodes validate the transaction
- Nodes receive a reward for Proof of Work, typically in cryptocurrency
- The block is added to the existing blockchain
- The update is distributed across the network
- The transaction is complete
Last modified 1yr ago